Is the reign of engineers in Silicon Valley coming to an end? In any case, everything is changing in California, the weekly describes Economist. The UK publication reports that the Facebook scholarship, which this year includes two years of study and a $42,000 stipend, has been won by a young economist at the Massachusetts Institute of Technology (MIT).
Companies are increasingly turning to economics researchers to solve some of their business problems or shape their strategy. Several studies show that one in seven young people with a PhD in economics will be hired by a technology company in 2022, compared to less than one in twenty in 2018.
Amazon and Uber are at the forefront of these changes. The e-commerce giant has about 400 economists in its ranks, and the VTC specialist has hired a fifth of doctoral students who graduated from Harvard University’s economics department last year.
According to John List, a professor at the University of Chicago who also worked at Uber, these profiles are not only attracted by the staggering salaries offered by the private sector. While their academic careers continue to be defined by a publish-or-perish culture, a phrase used to denounce the academic pressure that puts pressure on researchers, large groups promise them greater freedom to work in their field.
These profiles also offer skills often lacking in IT professionals and engineers, such as being good at statistics or even predictive analytics, which offer tools to understand future customer behavior.
However, despite its best efforts, Silicon Valley may find it difficult to poach the world’s leading economists. Economistwho for now remain very attached to their university positions.
To answer my questions upstream and keep up to date with Forum Expat news, I register here.
Source: Courrier International